The Economic and Financial Crimes Commission (EFCC) has taken into custody Abdulazeez Gbadebo, a manager with Emadeb Energy Service Limited, on accusations of siphoning company funds worth about ₦500 million.

According to investigators, Gbadebo allegedly manipulated pump meters and sold fuel and diesel in bulk to private buyers without remitting proceeds to company accounts. An external audit by Emadeb reportedly exposed the fraud, prompting the petition that led to his arrest.

During the operation, EFCC operatives recovered a fleet of luxury cars, including a Mercedes Benz GLK, three Mini Coopers, and another Mercedes Benz, as well as documents linked to real estate acquisitions. Among the properties traced to him were a bungalow, several plots of land, and title documents registered with the Kaduna Geographic Information Service.

The anti-graft agency confirmed that Gbadebo will be formally charged in court once investigations are finalized.